Paris (AFP)

Europe risks a "double dependence" on China in terms of energy transition, both for the extraction of rare metals and for their industrial transformation, warned on Monday Christel Bories, CEO of the French mining group Eramet.

"Europe must be careful not to end up with a double Chinese dependence: both on the extraction and on the refinery" of metals such as manganese, cobalt, nickel or lithium, used in the manufacture of electric batteries, said Ms. Bories on BFM Business, while her group, refocused on strategic mining activities, posted an 8% increase in its turnover in the first quarter.

"The battery of an electric vehicle is 40% of the value of the vehicle, and a large part of its weight are metals: nickel, manganese, cobalt, lithium, the famous lithium-ion batteries" a- she reminded.

"We are talking about a gigafactory (batteries, NDR), but where are the raw materials going to come from?"

she wondered, believing that Europe should have "mining players" capable "of responsibly developing and producing the metals of the energy transition".

While Eramet is considered a strategic player by the French State, "there are not many other European players" in the sector, noted Ms. Bories who has just been renewed in her post.

"We must develop or help develop companies like us. There are also start-ups in these fields," she noted.

According to her, Europe must "do geopolitics, that is to say what is called economic diplomacy to link up with countries that have such wealth. China does this extremely well in a way effective for many years and therefore has drawn a lot of resources, ”added Ms. Bories.

The growth of the metallurgical and mining group was driven in the first quarter by that of its mines and by the rise in metal prices on world markets, despite the decline in sales of high performance alloys from its subsidiary Aubert and Duval, affected by the aeronautics crisis.

In total, the production of ores and metals saw its sales increase by 18% to 683 million euros.

That of manganese ore increased by 17% to 1.5 million tons in Gabon, the turnover related to the extraction of nickel ore jumped 58%.

The group's third mining activity, linked to the exploitation of mineral sands in Senegal, saw its activity decline by 20% over one year.

© 2021 AFP